Fidelity Launches Spot Bitcoin ETF in Canada Without SEC Decision

One of the world's largest asset managers, Fidelity Investments, plans to launch a spot Bitcoin ETF in Canada.not going to wait for appropriate action by the Securities and Exchange Commission.

Fidelity Investments currently manages approximately $ 4.2 trillion in assets, making it one of the leading asset management companies in the world.

This is actually a bad call for the Commission.US Securities and Exchange Commission (SEC), which opposes the approval of a spot Bitcoin ETF. Harmonizing similar products in neighboring Canada is driving capital out of the country.

The product is called FidelityAdvantage Bitcoin ETF (FBTC) and allows you to receive so-called physical bitcoins. This means that the fund will purchase actual BTC instead of accessing it through a derivative instrument.

The move comes after Fidelity received regulatory approval from Canada to launch the first Bitcoin-based institutional solution.

Other companies that will launch a spot Bitcoin ETF include Galaxy Digital, led by Michael Novogratz, and CI GAM.

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